Fixed Index Annuity Illustration

by Warren Readinger | Aug 13, 2019 | Blog | 0 comments

Fixed Index Annuity Illustration

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Fixed Index Annuity sales have continually been increasing year over year. As a FMO for annuity sales working with hundreds of agents across the country we here at Pinnacle Financial Services know the power of a Fixed Index Annuity illustration.

With so many carriers and products available in the industry these days, not to mention the many new indexing strategies, it has become harder and harder to keep track of which is the best product for your client.

That is where we can help. If you have a client that knows they want income at a certain age or just wants to leave it sit for accumulation, we can input it into our Fixed Index Annuity software program and come up with the best company that will accomplish their goals. It can show them exactly how much guaranteed lifetime income they would get at whatever age they want to active their guaranteed stream of annuity income. It will also show how the client’s money will grow on a tax-deferred basis if they don’t touch it. Annuity illustrations will also give clients historical back testing showing the best and worst scenarios performed over the last 10 years. Setting the right expectations is key in making an annuity presentation.

For those interested in seeing that historical growth in an illustration we can show that as well. An index annuity’s annual growth is tied to a stock market index (Dow Jones, Janus, S&P500, etc) rather than a fixed rate. Show a client how an annuity can grow their retirement nest egg without any of the large ups and downs of the market. A strong illustration can help you show a client how an annuity can protect their retirement and give them the peace of mind of guaranteeing a lifetime stream of income.

Here at Pinnacle Financial Services, we provide illustrations based on your specific clients’ goals. Not every situation is the same and fact finding is an integral part of providing the best possible annuity illustration.

Contact Pinnacle Financial Services today to take the next step in growing your fixed index annuity business.

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Warren Readinger

Director of Sales - Life, Annuity, & LTC

x7794 | wreadinger@pfsinsurance.com

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Using an E-App for Life Insurance

by Warren Readinger | May 16, 2019 | Blog | 0 comments

Using an E-App for Life Insurance

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Buying life insurance today is not what it was 20 years ago! In the world of fast paced, “I want it now” culture, people don’t want to fill out a paper application and go through an entire long drawn out process to buy life insurance. If you can go to your local fast food place and use a touch screen to order your food, why can’t you do that with life insurance? That is were using an E-app for life insurance purchasing come into play.

Insurance companies are now making it easier to apply for life insurance. Most carriers are using an e-app to get an underwriting decision in less time than using the traditional paper application. What use to take up to a month or longer to underwrite, can now be done in less than two weeks or sooner. This allows for faster processing times and quicker approvals. One of the most significant advantages of the app is that you can get life insurance quotes online from many life insurance companies, have a look today, all in one place.

Besides the time it takes to underwrite, additional reasons to use an electronic application are, they’re faster to fill out and they don’t allow you to make a mistake. Generally, an e-app takes about 30 minutes or less to fill out and if you miss something, it won’t allow you to move on to the next page. By using an e-app, you can also pre-qualify clients and sell remotely.

As more and more companies are switching over to using electronic applications, you need to keep up with these changing times. If you aren’t on board with using an e-app, some companies are using a simplified form called a Drop Ticket. This form is essentially a combination of a paper app and e-app. It allows you to get enough information on the client and have the company get the rest of it through the use of script checks and an MIB check along with medical records from the client’s doctor.

If you’re looking to write a life insurance policy and want to use an electronic application but don’t know how, give the experts at Pinnacle Financial Services a call and we can walk you through the process.

Contact Pinnacle Financial Services today to take the next step in growing your term life business.